The Audit Committee shall recommend to the Town Manager the firm of independent auditors that is to audit and report on the financial statements issued by the Town. The Audit Committee shall review the audit plan with the independent auditors and upon completion of the audit, meet with the independent auditors to discuss the results of the audit and the annual financial reports. The Audit Committee shall transmit a copy of the completed annual audit and report to the Board of Selectmen, the Finance Committee, the School Committee and the Reading Municipal Light Board by the end of the calendar year within which the Fiscal Year covered by the audit occurs.